UK's annual inflation at 2.8% in February, below expectations

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate in the UK was 2.8% in February, down from 3%, the Office for National Statistics (ONS) released on Wednesday.

The market expectation was also 3% for the month of February.

The ONS said the monthly inflation in the country was 0.4% in February, down from 0.6% in January -- also below the market expectation of 0.5%.

The largest downward contribution to the monthly change in inflation came from clothing, it added.

The UK's core inflation rate, excluding energy, food, alcohol and tobacco, was 3.5% in February, down from 3.7% in January.